Ryerson Holding Corp (NYSE:RYI) – Investment analysts at KeyCorp upped their Q4 2017 EPS estimates for Ryerson in a note issued to investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn ($0.10) per share for the quarter, up from their prior forecast of ($0.11). KeyCorp currently has a “Buy” rating and a $13.50 target price on the stock. KeyCorp also issued estimates for Ryerson’s FY2018 earnings at $1.00 EPS.
RYI has been the topic of several other reports. Zacks Investment Research lowered Ryerson from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $13.00 target price on shares of Ryerson in a research report on Friday, October 20th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $9.75 target price on shares of Ryerson in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Ryerson presently has an average rating of “Hold” and an average price target of $11.08.
Ryerson (NYSE:RYI) last issued its earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. Ryerson had a negative return on equity of 33.95% and a net margin of 0.26%. The firm had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of Ryerson in the third quarter worth $134,000. Ameriprise Financial Inc. bought a new position in shares of Ryerson in the second quarter worth $138,000. Rhumbline Advisers grew its stake in shares of Ryerson by 26.0% in the second quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock worth $180,000 after purchasing an additional 3,740 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Ryerson by 5.8% in the second quarter. Wells Fargo & Company MN now owns 20,343 shares of the basic materials company’s stock worth $202,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Ryerson by 140.0% in the second quarter. Alliancebernstein L.P. now owns 24,000 shares of the basic materials company’s stock worth $238,000 after purchasing an additional 14,000 shares in the last quarter. 39.28% of the stock is owned by institutional investors.
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Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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